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501-506 The Capel Building

Mary's Abbey, Dublin 7

Sold €2,750,000
Property Highlights
  • 6,921 sq. ft Penthouse Office Suite
  • Fully let to Storm Technology Ltd
  • Net Initial Yield of 8.45%
Property Location

The Capel Building is located in Dublin City Centre situated on the corner of Capel Street and Mary’s Abbey within minutes walk of one of the city’s main retailing quarter of Henry Street, Mary Street and the Ilac Shopping Centre and Jervis Shopping Centre and numerous quality hotels. The location is also part of the city’s legal district being in close proximity to the Four Courts, the law library and numerous legal offices.

Property Description

Completed in 2004 The Capel Building is located in the heart of Dublin on the Luas Line and between the Four Courts and The Jervis Centre. It is a mixed development of 22,000 sq.m with 10,000 sq.m of office accommodation over five floors and mixed retail units on ground and lower ground levels. The office accommodation ranges in size from 40 sq.m to 900 sq.m.

The building is entered by means of a dramatic double height foyer notable for its roof top atrium, extensive glazing, white oak cladding, marble finishes, plants, and water architecture. All of the ground floor retail units have access either from this impressive entrance or from the street, and in some cases have access from both. A central reception area and 24-hour security presence service the requirements of office users, with additional safety measures built-in in the form of a state-of-the-art electronic security system.

The subject property comprises a modern penthouse office suite extending to approx. 643 sq. m (6,921 sq. ft) together with 3 x secure basement car parking spaces.

Specification includes;

  • Air conditioning 
  • Aluminium clad, tilt opening windows
  • Cat 6 cabling
  • High speed broadband
  • Raised access floors

Lease Terms

Let to Storm Technology Limited by way of a 10 year lease from 1st February 2019 at a passing rent of €255,667 per annum. The lease provides for a fixed uplift to €284,075 per annum from years 6 to 10. The lease allows for a tenant break option at the end of year 5 (subject to 6 months’ notice). The three secure car parking spaces are vacant with an estimated rental value of €9,000 per annum.

Storm Technology are a business technology consultancy firm, that specialise in building solutions to help clients gain better value faster from investments they have made in Microsoft technologies. Storm Technology are one of the most respected business technology consultancies and Microsoft solution partners in Ireland. They employ a team of 100 people in Ireland and have offices in Dublin and Galway.

Property Size/Area
Approx. 643 sq. m (6,921 sq. ft)
Property Status
Sold
BER Details
Ber Number - Available upon request
Property Location
Documents
QRE Contacts
Bryan Garry
Bryan Garry
MRICS MSCSI  

Director Investment

Bryan has over 13 years of experience in the Irish commercial property market. As Director of the In... View More

083 3918649

(01) 637 5544

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David O'Malley
David O'Malley
MRICS MSCSI  

Director Agency

David is Director of the QRE Agency and Investment Team. He is a fully qualified Chartered Surveyor ... View More

0868579209

(01) 582 5330

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